{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-122384","form_type":"8-K","ticker":"OPIRQ","cik":"0001456772","company_name":"OFFICE PROPERTIES INCOME TRUST","filed_at":"2024-11-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:08.487109+00:00","generated_at":"2026-05-29T18:48:29.921568+00:00","sec_items":["1.01","3.02","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"OPI enters exchange agreement to refinance up to $340M of 2025 notes with $445M new secured notes and 19.9% equity stake","bullets":["Exchange of up to $340M of 2025 unsecured notes for $445M new 3.25% secured notes due 2027, ~11.5M common shares (19.9% of outstanding), and cash premiums.","New notes require quarterly amortization of $6.5M and mandatory $125M repayment by March 1, 2026, unless met by asset sale proceeds.","OPI to pay $15M premium to backstop parties and $10M support premium; remaining $113.6M of 2025 notes to be repaid with cash at closing.","Additional private exchanges: between Sep 30 and Nov 15, OPI issued ~4M shares for $7.1M of 2025 notes at implied value ~$1.69/share.","Disclosure material shows potential covenant breach (unencumbered asset ratio below 150%) in downside scenarios, raising liquidity concerns."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-122384","json":"https://secwatch.observer/filing/0001104659-24-122384.json","markdown":"https://secwatch.observer/filing/0001104659-24-122384.md","text":"https://secwatch.observer/filing/0001104659-24-122384.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1456772/000110465924122384/0001104659-24-122384-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1456772/000110465924122384/tm2429413d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-29T18:48:29.921568+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}